For many workers transitioning into retirement, rolling over old 401(k)s feels like a logical and harmless move. The promise of consolidating accounts, gaining more investment choices, or simply cleaning up financial clutter can be tempting. However, acting too fast without understanding all the consequences can lead to costly mistakes. Many retirees regret rolling over old 401(k)s too quickly because once funds are moved, it’s often difficult or impossible to reverse the decision. Knowing the potential pitfalls can help you make more informed choices with your retirement savings.
